Bitcoin updated to a quarterly low after the release of U.S. inflation data

Bitcoin updated to a quarterly low after the release of U.S. inflation data


The value of the first cryptocurrency failed to hold at $18.6 thousand and continued to decline

Bitcoin rate updated its minimum since June 20, when the cryptocurrency was trading at $18.2 thousand. During the first half of October 13, the first cryptocurrency was trading in the range of $19.1 thousand - $19 thousand. In the middle of the day the coin price fell to $18.6 thousand, but later failed to hold at this level and dropped to $18.3 thousand. at 17:20 NY time BTC rate is at $ 18.4 thousand.

The daily decline in bitcoin price was 3.5%, the market capitalization fell to $531 billion with a daily trading volume of $27 billion, according to Coingecko. Bitcoin's market share was 38.16%.

The latest drop came after the U.S. Labor Department reported at 3:30 p.m. Moscow time that U.S. consumer prices rose 8.2% in September and core inflation, which excludes food and energy prices, was 6.6% year-over-year, marking new highs since 1982.

Futures on major U.S. market indexes fell on the release of this data. Other cryptocurrencies also reacted. The price of Ethereum fell by 5.6% to $1.22 thousand in 24 hours, Binance Coin (BNB) fell 3% to $262, and the value of Cardano fell 6.4% to $0.36.

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